Spotify Keeps Up With Kardashians while Jobs Report Can't Keep Up | Pandemic Cryptocurrency Performance & Outlook - Daily Financial News & Insights for June 18, 2020

Spotify Keeps Up With Kardashians while Jobs Report Can’t Keep Up – Daily Financial News Summary for Thursday, June 18, 2020 California has reported the largest single-day increase in new Covid19 cases today. The seven-day average was a rise of 2%, meanwhile, they reported an increase of 2.6%. Spotify made the news today, as the Wall Street Journal reported a new deal with Kim Kardashian West. Spotify will be working with the celebrity to launch a new criminal justice podcast. Stocks jumped by over 10% after the reveal. Dish Network rose by 5.9% on Thursday after the company released details about its purchase of Boost Mobile. They would be purchasing it from T-Mobile by July 1. FedEx’s target price was raised from $140 to $160, and shares were up by 2% today. Christian Wetherbee spoke about FedEx’s potential to recovery after the pandemic: “FedEx should have leverage to re-opening economies around the world given its elevated business to business revenue mix and comps will be particularly easy given the weakness in global trade leading up to the COVID-19 pandemic.” https://callputstrike.com/2020/06/18/spotify-keeps-up-with-kardashians-while-jobs-report-cant-keep-up-daily-financial-news-summary-for-thursday-june-18-2020/ Pandemic Cryptocurrency Performance & Outlook Many industries in the United States have been negatively affected by the global pandemic Covid19. Is cryptocurrency one of those struggling industries, or has it shone through and thrived during the chaos? The digital world has allowed many of us to take to our home computers and work away from the office. The same principle applies to digital money. It is safer than physical currency and has become more widely accepted among fears that transferring money from hand to hand will spread the virus. However, this change in the situation has not resulted in much change in the value of cryptocurrency – so far. Dan McArdle, Messari co-founder spoke about what happened right at the beginning of Covid19: “People have/had this notion that bitcoin is a hedge against a recession, or specifically the S&P. I’ve thought that’s wrong for a while, and indeed we saw high correlation with the S&P [in March] as investors everywhere sold everything in the first real global liquidity crunch we’ve seen since 2009. No surprise bitcoin did not outperform.” McArdle went on to describe what he believes will happen in the future: “This is looking to be especially important over the next few years as central banks globally add many trillions to their balance sheets. If they’re successful in preventing further asset price declines, the new liquidity may very well seek out scarce assets such as bitcoin.” In the future, McArdle believes that Americans will get tired of the system that allows the Fed to print trillions of dollars, but the government takes 30% of our salaries. Bitcoin is an alternative monetary option that consumers might start to turn towards. READ MORE: https://callputstrike.com/2020/06/18/pandemic-cryptocurrency-performance-outlook/